The universe seems neither benign nor hostile, merely indifferent. Carl Sagan Suppose that there are only two types of goods which you, as a customer, buy and use. What amount would you prefer to buy from each one of these two goods? Why? Yeah, for sure, there are far...
But Mouse, you are not alone, In proving foresight may be vain: The best laid schemes of mice and men Go often askew, And leave us nothing but grief and pain, For promised joy! – Robert Burns, 1785 In the 19th century, during the British colonial rule in...
The Big Mac Index was written by Pam Woodall in The Economist in 1986. The index, also known as Burgernomics, is published every spring by The Economist. According to the magazine, it serves as a lighthearted guide to whether currencies are at their correct level while seeking to make exchange-rate...
Our willingness to pay a certain price for foreign money must ultimately and essentially be due to the fact that this money possesses a purchasing power as against commodities and services in that country. On the other hand, when we offer so and so much of our own money, we...
